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Highlights of the FASB’s August 21 meeting

  • FASB meeting Image

Aug 22, 2019

At its August 21, 2019, meeting, the FASB discussed (1) hedging — last-of-layer method and (2) reporting of gifts-in-kind by not-for-profit entities.

Hedging — Last-of-layer method

During this educational session, the Board discussed issues related to accounting for basis adjustments and multiple-layer hedging strategies under the last-of-layer method. No decisions were made.

For more information, see the tentative Board decisions on the FASB’s Web site.

Reporting of gifts-in-kind by not-for-profit entities

The Board decided to add a project to its technical agenda to address the presentation and valuation of gifts-in-kind (GIKs) received by not-for-profit organizations. The project aims “to provide additional transparency in the reporting of GIKs through potential enhancements to presentation and disclosure.”

For more information, see the tentative Board decisions on the FASB’s Web site.

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.